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DWS High Income Fund
mutual fund
KHYRX
Payout Change
Pending
Price as of:
$4.2
-0.02
-0.47%
primary theme
High Yield Bond
KHYRX (Mutual Fund)
DWS High Income Fund
Payout Change
Pending
Price as of:
$4.2
-0.02
-0.47%
primary theme
High Yield Bond
KHYRX (Mutual Fund)
DWS High Income Fund
Payout Change
Pending
Price as of:
$4.2
-0.02
-0.47%
primary theme
High Yield Bond
Name
As of 09/22/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
4.8%
1 yr return
8.4%
3 Yr Avg Return
1.4%
5 Yr Avg Return
2.6%
Net Assets
$543 M
Holdings in Top 10
11.3%
52 WEEK LOW AND HIGH
$4.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.38%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 68.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/22/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
KHYRX - Profile
Distributions
- YTD Total Return 4.8%
- 3 Yr Annualized Total Return 1.4%
- 5 Yr Annualized Total Return 2.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.89%
- Dividend Yield 5.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameDWS High Income Fund
-
Fund Family NameDWS Funds
-
Inception DateMay 01, 2012
-
Shares OutstandingN/A
-
Share ClassRetirement
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGary Russell
Fund Description
Main investments. Under normal circumstances, the fund generally invests at least 65% of net assets, plus the amount of any borrowings for investment purposes, in junk bonds, which are those rated below the fourth highest credit rating category (that is, grade BB/Ba and below) or, if unrated, determined by the Advisor to be of similar quality. Compared to investment-grade debt securities, junk bonds generally pay higher yields, have higher volatility and higher risk of default on payments of interest and principal. The fund may invest up to 50% of total assets in bonds denominated in US dollars or foreign currencies from foreign issuers, including issuers in emerging markets. The fund invests in securities of varying maturities and intends to maintain a dollar-weighted effective average portfolio maturity that will not exceed ten years. Subject to its portfolio maturity policy, the fund may purchase individual securities with any stated maturity. Because the fund may invest in fixed income securities of varying maturities, the fund's dollar-weighted average effective portfolio maturity will vary. As of December 31, 2022, the fund had a dollar-weighted average effective portfolio maturity of 4.91 years.Management process. Portfolio management focuses on cash flow and total return analysis, and broad diversification among countries, sectors, industries and individual issuers and maturities. Portfolio management uses an active process that emphasizes relative value, managing on a total return basis, and intensive research to identify stable to improving credit situations that may provide yield compensation for the risk of investing in junk bonds.Portfolio management utilizes primarily a bottom-up approach, where relative value and fundamental analysis are used to select securities within each industry, and a top-down approach to assess the overall risk and return in the market, including macroeconomic trends. Portfolio management also incorporates other considerations that it believes to be financially material, including environmental, social and governance (ESG) factors, independent credit research, management visits and conference calls, as part of its analysis and research process.Derivatives. Portfolio management generally may use credit default swaps, which are a type of derivative (a contract whose value is based on, for example, indices, currencies or securities) to seek to increase the fund’s income, to gain exposure to a bond issuer’s credit quality characteristics without directly investing in the bond, or to hedge the risk of default on bonds held in the fund’s portfolio. In addition, portfolio management generally may use forward currency contracts to hedge exposure to changes in foreign currency exchange rates on foreign currency denominated portfolio holdings or to facilitate transactions in foreign currency denominated securities.The fund may also use other types of derivatives (i) for hedging purposes; (ii) for risk management; (iii) for non-hedging purposes to seek to enhance potential gains; or (iv) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions.Securities lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers, banks and pooled investment vehicles.
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KHYRX - Performance
Return Ranking - Trailing
| Period | KHYRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.8% | -6.1% | 10.2% | 57.65% |
| 1 Yr | 8.4% | -12.5% | 12.0% | 48.09% |
| 3 Yr | 1.4%* | -21.7% | 52.9% | 62.52% |
| 5 Yr | 2.6%* | -14.9% | 29.4% | 47.39% |
| 10 Yr | 3.3%* | -9.1% | 13.5% | 52.03% |
* Annualized
Return Ranking - Calendar
| Period | KHYRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -13.7% | -33.4% | 3.6% | 22.67% |
| 2021 | -0.6% | -47.5% | 8.2% | 75.15% |
| 2020 | 1.0% | -13.2% | 302.7% | 24.92% |
| 2019 | 9.1% | -4.4% | 13.0% | 20.98% |
| 2018 | -7.6% | -18.4% | -0.4% | 33.04% |
Total Return Ranking - Trailing
| Period | KHYRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.8% | -5.0% | 10.2% | 57.65% |
| 1 Yr | 8.4% | -10.9% | 12.7% | 48.09% |
| 3 Yr | 1.4%* | -20.9% | 60.2% | 62.52% |
| 5 Yr | 2.6%* | -13.0% | 35.7% | 47.39% |
| 10 Yr | 3.3%* | -3.7% | 19.4% | 52.03% |
* Annualized
Total Return Ranking - Calendar
| Period | KHYRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -9.4% | -33.4% | 6.5% | 39.70% |
| 2021 | 3.6% | -47.5% | 12.8% | 82.41% |
| 2020 | 5.6% | -7.6% | 325.6% | 54.29% |
| 2019 | 14.3% | -3.8% | 19.4% | 43.44% |
| 2018 | -2.8% | -10.7% | 4.5% | 41.74% |
NAV & Total Return History
KHYRX - Holdings
Concentration Analysis
| KHYRX | Category Low | Category High | KHYRX % Rank | |
|---|---|---|---|---|
| Net Assets | 543 M | 390 K | 71.1 B | 44.56% |
| Number of Holdings | 348 | 2 | 2736 | 44.82% |
| Net Assets in Top 10 | 61.3 M | -492 M | 2.55 B | 51.82% |
| Weighting of Top 10 | 11.29% | 3.0% | 100.0% | 69.93% |
Top 10 Holdings
- DWS Central Cash Management Government Fund 2.27%
- CCO Holdings LLC / CCO Holdings Capital Corp 1.29%
- Caesars Entertainment Inc 1.20%
- CCO Holdings LLC / CCO Holdings Capital Corp 1.05%
- DWS Government Agency Securities Portfolio DWS Government Cash Institutional Shares 1.03%
- First Quantum Minerals Ltd 1.01%
- Royal Caribbean Cruises Ltd 0.92%
- Novelis Corp 0.91%
- Virgin Media Secured Finance PLC 0.81%
- iShares Broad USD High Yield Corporate Bond ETF 0.80%
Asset Allocation
| Weighting | Return Low | Return High | KHYRX % Rank | |
|---|---|---|---|---|
| Bonds | 95.41% | 0.00% | 154.38% | 43.17% |
| Cash | 3.73% | -52.00% | 100.00% | 52.41% |
| Stocks | 0.80% | -0.60% | 52.82% | 39.39% |
| Convertible Bonds | 0.38% | 0.00% | 17.89% | 83.36% |
| Other | 0.05% | -63.70% | 32.06% | 33.14% |
| Preferred Stocks | 0.00% | 0.00% | 7.09% | 53.28% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | KHYRX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 42.45% |
| Technology | 0.00% | 0.00% | 34.19% | 43.87% |
| Real Estate | 0.00% | 0.00% | 86.71% | 41.03% |
| Industrials | 0.00% | 0.00% | 100.00% | 15.38% |
| Healthcare | 0.00% | 0.00% | 22.17% | 44.44% |
| Financial Services | 0.00% | 0.00% | 100.00% | 43.30% |
| Energy | 0.00% | 0.00% | 100.00% | 58.12% |
| Communication Services | 0.00% | 0.00% | 99.99% | 47.86% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 34.47% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 57.26% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 45.58% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | KHYRX % Rank | |
|---|---|---|---|---|
| US | 0.80% | -0.60% | 47.59% | 38.54% |
| Non US | 0.00% | -0.01% | 5.26% | 30.22% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | KHYRX % Rank | |
|---|---|---|---|---|
| Corporate | 95.05% | 0.00% | 129.69% | 49.71% |
| Cash & Equivalents | 3.35% | 0.00% | 99.98% | 43.36% |
| Derivative | 0.05% | 0.00% | 45.95% | 16.20% |
| Securitized | 0.00% | 0.00% | 97.24% | 56.29% |
| Municipal | 0.00% | 0.00% | 4.66% | 25.29% |
| Government | 0.00% | 0.00% | 99.07% | 48.39% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | KHYRX % Rank | |
|---|---|---|---|---|
| US | 91.19% | 0.00% | 150.64% | 64.53% |
| Non US | 4.22% | 0.00% | 118.12% | 22.34% |
KHYRX - Expenses
Operational Fees
| KHYRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.38% | 0.03% | 18.97% | 26.46% |
| Management Fee | 0.46% | 0.00% | 1.84% | 21.98% |
| 12b-1 Fee | 0.50% | 0.00% | 1.00% | 62.65% |
| Administrative Fee | 0.10% | 0.00% | 0.50% | 39.70% |
Sales Fees
| KHYRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| KHYRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 11.22% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| KHYRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 68.00% | 1.00% | 255.00% | 60.36% |
KHYRX - Distributions
Dividend Yield Analysis
| KHYRX | Category Low | Category High | KHYRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.75% | 0.00% | 37.17% | 74.09% |
Dividend Distribution Analysis
| KHYRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
| KHYRX | Category Low | Category High | KHYRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.89% | -2.39% | 14.30% | 75.19% |
Capital Gain Distribution Analysis
| KHYRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 23, 2022 | $0.017 | OrdinaryDividend |
| Oct 25, 2022 | $0.017 | OrdinaryDividend |
| Sep 26, 2022 | $0.017 | OrdinaryDividend |
| Aug 25, 2022 | $0.017 | OrdinaryDividend |
| Jul 25, 2022 | $0.017 | OrdinaryDividend |
| Jun 24, 2022 | $0.017 | OrdinaryDividend |
| May 24, 2022 | $0.017 | OrdinaryDividend |
| Apr 25, 2022 | $0.017 | OrdinaryDividend |
| Mar 25, 2022 | $0.017 | OrdinaryDividend |
| Feb 22, 2022 | $0.017 | OrdinaryDividend |
| Dec 09, 2021 | $0.017 | OrdinaryDividend |
| Nov 23, 2021 | $0.017 | OrdinaryDividend |
| Oct 25, 2021 | $0.017 | OrdinaryDividend |
| Sep 24, 2021 | $0.017 | OrdinaryDividend |
| Aug 25, 2021 | $0.017 | OrdinaryDividend |
| Jul 26, 2021 | $0.017 | OrdinaryDividend |
| Jun 24, 2021 | $0.017 | OrdinaryDividend |
| May 24, 2021 | $0.017 | OrdinaryDividend |
| Apr 26, 2021 | $0.017 | OrdinaryDividend |
| Mar 25, 2021 | $0.017 | OrdinaryDividend |
| Feb 22, 2021 | $0.017 | OrdinaryDividend |
| Jan 25, 2021 | $0.017 | OrdinaryDividend |
| Dec 09, 2020 | $0.017 | OrdinaryDividend |
| Nov 23, 2020 | $0.017 | OrdinaryDividend |
| Oct 26, 2020 | $0.017 | OrdinaryDividend |
| Sep 24, 2020 | $0.017 | OrdinaryDividend |
| Aug 25, 2020 | $0.017 | OrdinaryDividend |
| Jul 27, 2020 | $0.017 | OrdinaryDividend |
| Jun 24, 2020 | $0.017 | OrdinaryDividend |
| May 22, 2020 | $0.017 | OrdinaryDividend |
| Apr 24, 2020 | $0.017 | OrdinaryDividend |
| Mar 25, 2020 | $0.017 | OrdinaryDividend |
| Feb 24, 2020 | $0.018 | OrdinaryDividend |
| Jan 27, 2020 | $0.018 | OrdinaryDividend |
| Dec 10, 2019 | $0.018 | OrdinaryDividend |
| Nov 22, 2019 | $0.018 | OrdinaryDividend |
| Oct 25, 2019 | $0.018 | OrdinaryDividend |
| Sep 24, 2019 | $0.018 | OrdinaryDividend |
| Aug 26, 2019 | $0.018 | OrdinaryDividend |
| Jul 25, 2019 | $0.018 | OrdinaryDividend |
| Jun 24, 2019 | $0.018 | OrdinaryDividend |
| May 24, 2019 | $0.018 | OrdinaryDividend |
| Apr 24, 2019 | $0.018 | OrdinaryDividend |
| Mar 25, 2019 | $0.020 | OrdinaryDividend |
| Feb 22, 2019 | $0.020 | OrdinaryDividend |
| Jan 25, 2019 | $0.020 | OrdinaryDividend |
| Dec 11, 2018 | $0.020 | OrdinaryDividend |
| Nov 26, 2018 | $0.020 | OrdinaryDividend |
| Oct 25, 2018 | $0.020 | OrdinaryDividend |
| Sep 24, 2018 | $0.020 | OrdinaryDividend |
| Aug 27, 2018 | $0.020 | OrdinaryDividend |
| Jul 25, 2018 | $0.020 | OrdinaryDividend |
| Jun 25, 2018 | $0.020 | OrdinaryDividend |
| May 24, 2018 | $0.019 | OrdinaryDividend |
| Apr 24, 2018 | $0.019 | OrdinaryDividend |
| Mar 23, 2018 | $0.019 | OrdinaryDividend |
| Feb 22, 2018 | $0.019 | OrdinaryDividend |
| Jan 25, 2018 | $0.019 | OrdinaryDividend |
| Dec 11, 2017 | $0.019 | OrdinaryDividend |
| Nov 24, 2017 | $0.019 | OrdinaryDividend |
| Oct 25, 2017 | $0.019 | OrdinaryDividend |
| Sep 25, 2017 | $0.020 | OrdinaryDividend |
| Aug 25, 2017 | $0.020 | OrdinaryDividend |
| Jul 25, 2017 | $0.020 | OrdinaryDividend |
| Jun 26, 2017 | $0.020 | OrdinaryDividend |
| May 24, 2017 | $0.019 | OrdinaryDividend |
| Apr 24, 2017 | $0.019 | OrdinaryDividend |
| Mar 27, 2017 | $0.019 | OrdinaryDividend |
| Feb 22, 2017 | $0.019 | OrdinaryDividend |
| Jan 25, 2017 | $0.019 | OrdinaryDividend |
| Dec 09, 2016 | $0.026 | OrdinaryDividend |
| Nov 23, 2016 | $0.019 | OrdinaryDividend |
| Oct 25, 2016 | $0.019 | OrdinaryDividend |
| Sep 26, 2016 | $0.019 | OrdinaryDividend |
| Aug 25, 2016 | $0.019 | OrdinaryDividend |
| Jul 25, 2016 | $0.017 | OrdinaryDividend |
| Jun 24, 2016 | $0.017 | OrdinaryDividend |
| May 24, 2016 | $0.017 | OrdinaryDividend |
| Apr 25, 2016 | $0.017 | OrdinaryDividend |
| Mar 24, 2016 | $0.017 | OrdinaryDividend |
| Feb 23, 2016 | $0.017 | OrdinaryDividend |
| Jan 25, 2016 | $0.017 | OrdinaryDividend |
| Dec 09, 2015 | $0.017 | OrdinaryDividend |
| Nov 23, 2015 | $0.017 | OrdinaryDividend |
| Oct 26, 2015 | $0.019 | OrdinaryDividend |
| Sep 24, 2015 | $0.020 | OrdinaryDividend |
| Aug 25, 2015 | $0.020 | OrdinaryDividend |
| Jul 27, 2015 | $0.020 | OrdinaryDividend |
| Jun 24, 2015 | $0.020 | OrdinaryDividend |
| May 22, 2015 | $0.020 | OrdinaryDividend |
| Apr 24, 2015 | $0.022 | OrdinaryDividend |
| Mar 25, 2015 | $0.022 | OrdinaryDividend |
| Feb 23, 2015 | $0.022 | OrdinaryDividend |
| Jan 26, 2015 | $0.022 | OrdinaryDividend |
| Dec 10, 2014 | $0.022 | OrdinaryDividend |
| Nov 21, 2014 | $0.022 | OrdinaryDividend |
| Oct 27, 2014 | $0.022 | OrdinaryDividend |
| Sep 24, 2014 | $0.023 | OrdinaryDividend |
| Aug 25, 2014 | $0.023 | OrdinaryDividend |
| Jul 25, 2014 | $0.023 | OrdinaryDividend |
| Jun 24, 2014 | $0.023 | OrdinaryDividend |
| May 23, 2014 | $0.022 | OrdinaryDividend |
| Apr 24, 2014 | $0.023 | OrdinaryDividend |
| Mar 25, 2014 | $0.023 | OrdinaryDividend |
| Feb 24, 2014 | $0.023 | OrdinaryDividend |
| Jan 27, 2014 | $0.023 | OrdinaryDividend |
| Dec 10, 2013 | $0.023 | OrdinaryDividend |
| Nov 22, 2013 | $0.023 | OrdinaryDividend |
| Oct 25, 2013 | $0.023 | OrdinaryDividend |
| Sep 24, 2013 | $0.025 | OrdinaryDividend |
| Aug 26, 2013 | $0.025 | OrdinaryDividend |
| Jul 25, 2013 | $0.026 | OrdinaryDividend |
| Jun 24, 2013 | $0.026 | OrdinaryDividend |
| May 24, 2013 | $0.026 | OrdinaryDividend |
| Apr 24, 2013 | $0.026 | OrdinaryDividend |
| Mar 22, 2013 | $0.026 | OrdinaryDividend |
| Feb 22, 2013 | $0.026 | OrdinaryDividend |
| Jan 25, 2013 | $0.026 | OrdinaryDividend |
| Dec 11, 2012 | $0.026 | OrdinaryDividend |
| Nov 26, 2012 | $0.026 | OrdinaryDividend |
| Oct 25, 2012 | $0.026 | OrdinaryDividend |
| Sep 24, 2012 | $0.026 | OrdinaryDividend |
| Aug 27, 2012 | $0.026 | OrdinaryDividend |
| Jul 25, 2012 | $0.026 | OrdinaryDividend |
| Jun 25, 2012 | $0.026 | OrdinaryDividend |
| May 24, 2012 | $0.026 | OrdinaryDividend |
KHYRX - Fund Manager Analysis
Managers
Gary Russell
Start Date
Tenure
Tenure Rank
Aug 01, 2006
15.84
15.8%
Gary Russell, CFA, Managing Director and Portfolio Manager. · Joined Deutsche Asset & Wealth Management in 1996. Served as the head of the High Yield group in Europe and as an Emerging Markets portfolio manager. · Prior to that, four years at Citicorp as a research analyst and structurer of collateralized mortgage obligations. Prior to Citicorp, served as an officer in the US Army from 1988 to 1991. ·BS, United States Military Academy (West Point); MBA, New York University, Stern School of Business.
Thomas Bouchard
Start Date
Tenure
Tenure Rank
Feb 01, 2016
6.33
6.3%
THOMAS R. BOUCHARD, Director, vice president and Portfolio Manager, Joined Deutsche Asset Management in 2006 with 6 years of industry experience. Prior to joining, served as a High Yield Investment Analyst at Flagship Capital Management. He also served as an officer in the US Army from 1989 to 1997. BS, University of Wisconsin - Madison; MBA in Finance, Boston College; MA in Strategic Studies from US Army War College.
Lonnie Fox
Start Date
Tenure
Tenure Rank
Aug 09, 2018
3.81
3.8%
Lonnie Fox, Director. Portfolio Manager, joined DWS in 2004 with one year of industry experience. Prior to his current role, he worked as a high yield credit analyst. Prior to joining, he served as a business analyst at Deloitte Consulting. BS in Applied Economics and Management, Cornell University; MBA in Finance and Strategy, New York University, Stern School of Business.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.15 | 8.17 |
